Effective September 1, 2011 for current accounts. This page contains information about terms, fees, and interest rates for some of the accounts we offer.
Internet Banking fee waived with enrollment of monthly eStatements with On The Go Banking access, $4/month without eStatements
Debit card available
Online Billpay Available
limitations
You must deposit $100 to open this account.
You must maintain a minimum daily balance of $500 every statement cycle to avoid the imposition of a Minimum Balance Fee.
costs
Minimum Balance Fee, if daily balance is $500 and above No Charge
Minimum Balance Fee, if daily balance is below $500…$7 Charge
A debit fee of $0.15 will be charged for each debit in excess of 30 during a statement cycle. This fee will apply only if the average daily balance falls below $1,000 during the statement cycle.
A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.
Internet Banking fee waived with enrollment of monthly eStatements with On The Go Banking access, $4/month without eStatements
Debit card available
Online Billpay Available
limitations
You must deposit $100 to open this account.
costs
A minimum balance fee of $3 will be imposed if daily balance falls below $250.
If eStatements are not enrolled, there will be a $3 paper statement fee. Statements do not include imaged account transactions. Images of individual items are available.
A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.
We use the collected daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in the account each day.
benefits
Internet Banking available
Estatements available
Debit card available
Online Bill-Pay Available
limitations
You must deposit $100 to open this account.
costs
You must maintain a minimum daily balance of $2,500 every statement cycle to avoid the imposition of a Minimum Balance Fee
Minimum Balance Fee if daily balance is $2,500 and above No Charge
Minimum Balance Fee if daily balance is Below $2500…$8 Charge
We use the collected daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in account each day.
benefits
Internet Banking available
Estatements available
limitations
You must deposit $100 to open this account.
There is no limit on the number of withdrawals when made in person at a Farmers State Bank office or at an automated teller machine. However, transfers to another deposit account with Farmers State Bank or to a third party by means of pre-authorized agreement or telephonic request (including Dial-A-Bank or Internet Banking), check, draft, or similar payment order (including POS or debit card ) are limited to six (6) per month. These transactions are governed by federal law and, if exceeded, could result in the Bank reclassifying the account. Excessive withdrawal fees still apply, see below.
costs
You must maintain a minimum daily balance of $2,500 every statement cycle in order to avoid the imposition of a Minimum Balance Fee of $8.
A fee of $5 will be charged for each withdrawal from your account in excess of six during a statement cycle.
The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.
We use the collected daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in the account each day.
benefits
Internet Banking available
Estatements available
ATM card may be available
limitations
You must deposit $100 to open this account.
There is no limit on the number of withdrawals when made in person at a Farmers State Bank office or at an automated teller machine. However, transfers to another deposit account with Farmers State Bank or to a third party by means of a pre-authorized agreement or telephonic request (including Dial-A-Bank or Internet Banking transfers), check, draft, or similar payment order (including POS or debit card) are limited to eighteen (18) per quarterly statement cycle. These transactions are governed by federal law and are also subject to excessive withdrawal fees. Excessive withdrawal fees will apply, see below.
costs
You must maintain a minimum daily balance of $250 every statement cycle in order to avoid the imposition of a Minimum Balance Fee.
Minimum Balance Fee if daily balance is $250 and above, No Charge
Minimum Balance Fee if daily balance is $100 to $249.99…$3.50 Charge
Minimum Balance Fee if daily balance is Below $100…$7 Charge
This fee will not apply to full-time students (age 25 or younger). At age 26, account will convert to a regular savings or an equivalent product at the time with all applicable fees and minimum balances.
You will be charged $1 for each withdrawal from your account in excess of 9 per quarterly statement cycle.
A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.
The following fees apply to all of your accounts with us except Certificates of Deposit and Time Deposit Accounts (unless otherwise noted):
Other Account Fees
Monthly Statement Fee
$3
Statement Request - Unscheduled
$5
Transfer Fee
$2
Inquires - Activity/Balance
$1
The above banking services can be conducted with no additional charge through Internet Banking, eStatements or Dial-a-Bank.
Monthly ATM/Debit Card Fee
$1.50
Replace Lost ATM/Debit Card
$5
Change PIN for ATM/Debit Card
$2
Foreign ATM/Debit Transaction Fee
$1
CTR Fee
$25
Deposit Correction
$2.50
Garnishment/Levies/Account Freezes
$75 (plus any legal fees and account research)
Deposited checks and other items returned unpaid
$4
NSF Item
$30 per item
Stop Payments
$30 per item
In/Outgoing Collections fee
$15 per item
Cashiers Check
$5 per item
Outgoing Wire Transfer
$25 per item
Incoming Wire Transfer
$10 per item
Rejected Outgoing Wire Processing Charge
$5 per occurrence
Account Sweep/Auto Transfers
$1 per occurrence
Internet Banking Fee
$4 per month, Internet Banking Fee waived if eStatements elected.
Online Bill-Pay
$4.95 per month ($2.95 for Club Accounts)
Online Bill-Pay Stop Payments
$15
Online Bill-Pay Research/Copies
$25
Enrollment in FSB Traveler’s Club is automatic & included for accounts with balances greater than $7,500, please see a new account representative for details about this account benefit.
$75 plus any legal fees and account research as necessary
Currency Exchange
Costs incurred to order/process foreign Currency
Rolling Coins
$0.25 per roll
Change Orders ($5 minimum)
Coin Purchased, $0.10/ roll or $2/box
Strapped Currency Purchased, $.20 per strap
Zipper Bag
$5
Lockable Zipper Bag
$25
Copies
$0.25/copy with $1 minimum
Faxes
$5 up to 10 pages & $1/page after 10
IRA rollover outgoing
$25
Non-Customer Check Cashing Fee on an Agreement Basis Only
$5 or 1% which ever is greater
Enrollment in FSB Traveler’s Club is automatic & included for accounts with balances greater than $7,500, please see a new account representative for details about this account benefit.
Safety Deposit Box Annual Fees
3x5
$25
4x5
$30
5x5
$35
3x10
$40
5x5
$35
3x10
$40
5x10
$50
6x10
$55
9x10
$65
10x10
$70
4x10.5
$45
8x10.5
$60
Key Replacement, Drilling or Replace Lock Fees will be assessed per current Locksmith rates at time of service.
Enrollment in FSB Traveler’s Club is automatic & included for accounts with balances greater than $7,500, please see a new account representative for details about this account benefit.
In 2 Simple Steps, Farmers State Bank will help you move your accounts from your current bank to ours.
Step 1
Open a new Farmers State Bank checking account at one of our 7 convenient locations. Discontinue use of your account at your existing bank and leave enough money to cover any outstanding checks, ATM/Debit card purchases, online bill payments and automatic payments/bank drafts.
Step 2
Complete any of the attached forms that currently apply to you:
Form 1: Direct Deposit Change Form: Payroll, Dividends or any other automatic deposit
Form 2: Automatic Payments or Bank Drafts Change Form: Scheduled transfers, monthly/quarterly/annual bill payments
Form 3: Go Direct Federal Benefit Direct Deposit Form: If you receive social security, supplemental security income, railroad retirement, civil (non-military) retirement or VA (compensation or pension only) then fill out this form to receive your benefits by direct deposit (Address/Phone number/website instructions are on the form)
Form 4: Account Closing Form: After all outstanding checks and debits have cleared and scheduled deposits and withdrawals are switched to Farmers State Bank, use this form to close the account at your old bank
Let our staff help you ease through the transition process! We will help answer any questions you might have, help you fill out any forms you need assistance with and help you get your forms to the right people. We want to make your transition to Farmers State Bank as smooth as possible!
